.Clothing company Cantabil, which functions 550 shops in 250 cities of the country, is considering to permeate deeper in to tier II and also beyond through opening up 85 new stores this budgetary, Deepak Bansal, director, Cantabil informed ETRetail.The company is likewise focussing on growing its own store measurements coming from 1,250 sq.ft to 1,600 sq.ft as larger retail stores are yielding far better profits." This fiscal year, we are actually planning to put in Rs 20 crore to aid the development strategies and also away from the 85 shops that our company are actually planning to open, 20 per cent will be through franchise option and also the staying 80 per-cent retail stores will certainly be actually company-owned and also company-operated," he explained.At found, 15 per cent of the stores of the company remain in the stores and also the staying 85 per-cent are on the higher roads, and also the company organizes to go ahead along with the very same ratio in the future also." twenty per-cent of our shops are in city and also rate I urban areas, 40 percent in tier II areas, and also the staying 40 per-cent in tier III and also past," he added.Last budgetary, the company forayed in to brand-new types like activewear and also shoes. These new categories assisted Rs 2.6 crore towards the FY 24 revenue and also this budgetary, the label is expecting the group to grow additional as well as contribute Rs 10 crore." In FY 23-24, our company opened 5 exclusive outlets for activewear as well as shoes and also added this as a brand new category to 60 of our existing loved ones retail stores, as well as this fiscal year, our company are actually organizing to include these classifications to 30 even more loved ones retail stores and will not be opening exclusive shops," he asserted." In addition to this, nowadays, our company have forty five special retail stores concentrating on women as well as little ones and also this financial, our experts are striving to add 15 additional retail stores," he even further added.In the previous financial, devices helped in 5 per cent of the total purchases, and also this economic, the brand name is actually considering to take its payment to 6 per cent. The brand, which enrolled 5 per-cent sales coming from online stations last fiscal, is organizing to enhance it to 7.5 percent this budgetary." Our offline average ticket size stands at Rs 4,600 with ordinary asking price of Rs 1,100," he stated.The label, which was actually targeting to close final financial along with Rs 675 crore earnings wound up shutting it at Rs 620 crore, and also this budgetary, it is actually going for Rs 750 crore revenue.
Posted On Aug 29, 2024 at 01:27 PM IST.
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